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Low Unemployment Means Employers Can’t Fill Positions

Posted October 4th, 2017

The U.S. unemployment rate is at the lowest level since 2001. Rumor has it the U.S. could be inching toward “full employment,” a time in which employers can’t find any more available, qualified workers to fill open positions. Despite the low unemployment level, a new study from CareerBuilder found that 76% of full-time, employed workers are either actively looking for a job or are open to new opportunities.

As employers grow increasingly competitive for labor, job seekers may have an edge in the low unemployment market. It’s important for employers to remember that the candidate experience starts from the very first click and can impact how effectively a company is able to recruit quality candidates.

Both candidates and employers alike should understand how best to adapt to the ever changing job market. Here are some facts to be aware of.

3 facts every employer should know about the candidate job search experience:

1. Candidates are quicker to drop off if the application seems too cumbersome or the process is poor.

2. Candidates move on quickly if the hiring process is slow-moving. According to CareerBuilder, 66% percent of job seekers said they will wait less than two weeks to hear back from the employer before moving on to the next opportunity.

3. You may not know how good or bad your process is so consider putting on your job seeker hat and go through the hiring process. Experience your jobs, career site, and company interactions through the eyes of the job seeker so you can make improvements where needed.

3 facts every job seeker should know about job hunting:

1. Finding a job may take longer than you think. The average time it takes to find a job is typically at least two months.

2. Your resume is not enough, employers want to see a cover letter, recommendations and links to social media profiles to get the information they need in order to assess whether someone is a good fit for the job.

3. The competition may be putting in more hours than you. On average, job seekers spend 11 hours a week searching for jobs.

If you’re interested in a job in the Phoenix area, check out our job listings.